Why fuckin me?

[Wolf]

I got a royal double fuck you in my mailbox today. 1st, I get a letter from Progressive, saying that my MC rate will be $130/month instead of $87 because I forgot about a pair of speeding tix I had. The 2nd and most fucked thing was a letter I got from the finance company GP Sports/I used to finance my bike; they declined me for financing due to unpaid bills (which I've been fighting with Experian (credit reporting company) about for several months now).

I'm not sure what will happen now, but as I recall from a buddy who financed his truck and was declined after the fact, GP Sports will shop my loan around to other creditors, and if no one picks it up, the bike goes back to the dealer- with a financial penalty to me, I'm sure.

This all must be a sign that I'm not ready to have a bike. Right now I'm pissed, depressed, and relieved at the thought of having to return my bike after only a week and a few days of owning it. Relieved because I wasn't sure how I would be able to afford it to begin with. I haven't called GP yet to find out what they're going to do, I figure when they hear from the creditor, they will contact me with my options.

Needless to say, this is a real kick in the balls. I was just getting used to freeway riding (hit 95mph on 680 on my way home from work this morning :) ) and riding in general, now I'm faced with the possibility of losing the bike altogether.

There's no way I could afford $130 extra for MC insurance... I'm going to check with Progressive and see what liability alone would run me, then wait to hear from the dealer.

GP Sports in Santa Clara may have a discounted SV650 with 400 miles on it available in the next few weeks. ;[

I'll keep you all posted on what comes of this.

Forever Pissed,
Patrick

[fireblade_rr]

they quoted me 5000 a year for my new bike (cbr929)

then i call gmac and they gave me full coverage with dubble the min. req. with a 150 deduc for a whopping $512 a YEAR thats right for a full year!

i had one accident as we all know but not my fault! and one speed ticket. but i have had my bike lic. for almost 8 years. check out their web site and get a quote!

http://www.gmacinsdirect.com/

do the online quote and they will get back to you!

HTH!!!

[Mike]

Sorry to hear about that Patrick :( ...I think you have to have full coverage in order to finance a bike...not just liability.

[ZX6R]

Well it sounds like you better hope they don't find another financing company because the APR would probably be killer. Progressive quoted me $5000 a year too, I'm paying 800 every six months right now, but I have 4 points and I'm going to court to try and get rid of another on th 25th. You are supposed to have Full coverage with financing but if you already have the bike and showed them that you had insurance (which I'm assuming you did to get the bike home) then they'll never know if you go back to liability.

[Wolf]

Originally posted by ZX6R
You are supposed to have Full coverage with financing but if you already have the bike and showed them that you had insurance (which I'm assuming you did to get the bike home) then they'll never know if you go back to liability.

That's the thing about it, the dealer dropped the price $200 so as he said "I wouldn't need to get insurance". So I'm guessing that because the amount financed is so low, the finance co doesn't require comp coverage. I checked progressive for liability only and it's like $35/month, so I might jsut get a buttload of liability and screw comp.

I think everyone working at GP Sports is on crack. I went down there this afternoon and showed my sales guy the rejection letter. He was like "Oh yeah, that's common. They'll mail you out a payment coupon book shortly". So I guess he thinks the same co will finance me anyway. Whatever. If a payment book comes, I'll pay; if it doesn't I won't pay. Doesn't matter to me.

-Back in the Saddle Again

[Gothik*Racer]

Hay youre not alone, my mitsu loan took 3 weeks of utter hell before I finalized it 3 weeks ago. I was sent one of those fucked up letters too, but before it arrived, my car dealer was going to each loan company and trying to deal with them because they lose too if you cant get the car. This is even with a damn co-signer and a 4k deposit. My dealer reduced the price of my car as a last result, knocked off 2k to make the loan smaller and then tacked on a new car warranty, <my car is used>. After all that he finally found a company to accept my loan. It sucks, that was miserable and I did not believe id keep the car until i got word from them that it was all finalized. Yeah it sux they let you take the car home and the loan isnt offical, it sux driving a car you might lose any day. Hang in there man. I did and it worked out. My next car will be cash down, i hate loans..
My insurance is high because its a new car.. :(

EG
btw if anyone wants a mitsubishi, roseville mitsubishi kicks ass.. the finance manager there is super cool, and Mike and Greg are the sales men to ask for they go out of their way to make you comfortable and to get you a good deal you can be happy with.. even the service manager is cool.




EG

[Wolf]

Love the avitar EklipseGrl

[Primetime]

outch dude!!! I mean the bike!!!

[David85GSLSE]

I went through Progressive - only $50 a year.
A friend of mine called them onhis 2002 929 and they wanted $2400. He called State Fam and got it for $470.
Another got a 2002 GSXR1000. Progressive = $4000. State Farm = $420.

[Gothik*Racer]

Originally posted by Wolf2600
Love the avitar EklipseGrl

damn i change my avitar so much...i dont remember which one I had when you sent that but thanks sweetie!!

EG

[Wolf]

Water torture.

[Leo]

If you dont get financed CA Finacial laws are as follows. If you dont get financed The bike/Car must be returned to the Dealer and you downpayment and any other cash that you have given to the dealer will be returned to you. there is no penality of any sort

[Wolf]

Wow, old thread. Yeah, it's all cool now. I got Progressive liability for $45/month, and I finally got my 1st bill for the bike $164.

[scourge]

Originally posted by Wolf2600
Wow, old thread. Yeah, it's all cool now. I got Progressive liability for $45/month, and I finally got my 1st bill for the bike $164.

Damn! State Farm will insure me on a Hayabusa for $300 every 6 months.... a Hayabusa! Of course, I'm 27 and they don't know/don't care about my 7 speeding tickets!:)

Oh, another thing - $164? There is a pristine 2001 Yamaha R6 in Nashville for $125 per month to take over payments! $125 per month!!!!!! We may be backwards here int he South, but its less expensive.

Scourge

[Wolf]

Yeah, when all was said and done it was about $7k out the door, but because of my lack of credit, I'm at 17% through Yamaha Finance. They set it up like a credit card though, which is kinda wierd. My statement shows my "credit limit" at $10k, with a balance of $7k, and everytime I make a payment, the minimum due drops some, like a credit card bill. So the payments should get smaller and smaller as I begin to pay it off.

Yeah, insurance for me is always bad. Guess I'm a pretty high risk. (4 speeds, 1 at fault accident, and 1 failure to comply w/ a 5-0 & 20 years old.) << and that's not counting the 3 other speeds I got removed w/ traffic school. :( :( I need to slow down.

[Wolf]

Goldwing isn't a bike. It's a convertable, doorless 2 wheeled Lexus.
But yeah interest rates suck. I think it's because bikes are considered to be toys instead of transportation.